The comparative analysis on robo-advisor awreness in emerging countries: case study on Turkey and UAE

The purpose of this study is to better understand the advantages that artificial intelligence (AI) technology may provide in the banking business, especially in investment advice operations, for both the firm and the consumer. While this study examines the opportunities and problems of Robo-advisor systems on a basic level, it does not compare any particular Robo-advisors that are now available on the market. Although the algorithms used, as well as the technical characteristics of the apps and their deployment in businesses, are outside the scope of this investigation. Mixed method approach was used to investigate the purpose of this study. The finding of this study shows that robo-advisory is still in an early stage where further development and adoption are required for general consumer adoption. Customers in the Turkey and UAE financial industry are asking for transparency and more information on robo-advisory in order to accept this innovation. No matter if a person invests in securities, their monthly savings have a big impact. There are a number of personality traits and behavioural factors that also have significantly influence whether or not someone chooses to use a robo-advisor to make investment decisions. On the other side, robo-advisors benefit service providers by cutting costs, expanding their clientele, generating consistent revenue via management fees, improving service quality, and making it simpler to keep tabs on business processes and transactions.